Press release -
Post Office Unveils Independent Process for Historic Appointment of two Postmasters as Board Directors
- Two serving Postmasters will be appointed to Post Office Board as Non-Executive Directors
- Postmasters on the Board builds on Chief Executive’s determination to reset relationship with Postmasters
- Creation of an independent selection panel, appointment of Civica Elections Services and consultancy Green Park ensures a transparent and independent process
- New NEDs due to start in April 2021
Applications open today (Monday 4 January) for two serving Postmasters to join the Board of Post Office as Non-Executive Directors for the first time in its history. The progressive decision will ensure that the experience and interests of 8,000 Postmasters are directly reflected in the decisions of the Post Office’s main Board. The appointments are a key milestone in the sustained re-set of the relationship with Postmasters, placing them front and centre of the business.
To reinforce the Post Office’s commitment to ensuring Postmasters’ voices are well represented at Board level, the Board and Shareholder have made the decision to increase the number of serving Postmaster Non-Executive Director (NED) roles to two. This will further strengthen the Non-Executive Directors’ input on all issues as they help shape the future direction of the Post Office.
Key to the success of these appointments is the governance put in place to ensure a transparent and independent selection process. An independent committee comprising leading industry figures: James Lowman, CEO, Association of Convenience Stores; Shirine Khoury-Haq, CFO at the Co-op Group; and Jean Church MBE, Council Member at the Institute of Directors has been appointed. All will contribute a wealth of convenience retailing, financial and independent executive level experience. The voting process will be overseen by Civica Elections services (formerly Electoral Reform Services), and Green Park consultants, specialists in board appointments, who will advise on best practice across the process.
Process
Applications will be open for four weeks and require interested serving postmasters to submit a CV and a short personal statement. Postmasters will need to have a minimum three years’ experience to apply. They will also need to demonstrate evidence of strong customer service and operational conformance.
The applications will be scrutinised by independent recruitment specialists, Green Park, and a selection then put forward for interview by the Independent Panel. A shortlist of candidates will then be put to a vote of Postmasters in March 2021. The election will be overseen by Civica Elections Services. Ahead of the election there will be the opportunity for postmasters [and multiple partners] to learn more about the shortlisted candidates, with an option to vote online or request a postal ballot. The Post Office will announce further details over the coming weeks.
The two candidates with the most votes will then be recommended to the Board and to the Secretary of State for Business, Energy and Industrial Strategy for final approval.
Induction and training:
In keeping with the responsibilities Non-Executive Directors have in any business, the role requires balancing the interests of all customers and stakeholders (Postmasters), the business (Post Office Ltd) and the shareholders (UK Government) in promoting the interests of the company as a whole. The Postmasters appointed to the role will receive an extensive induction and training programme, covering the corporate and legal aspects of fulfilling the duties of a Non-Executive Director.
The successful Postmaster NEDs will join the Board in April 2021, at the start of the new financial year for Post Office.
Nick Read, Chief Executive of the Post Office, said:
“Having two serving Postmasters on our Board sends the clearest signal yet of our determination to ensure Postmasters really are at the heart of our business, and this election is another vital milestone in resetting our relationship with Postmasters. The transparent and independent selection process, led by external industry experts, will ensure the Board is able to benefit from the counsel and input of the most suitable candidates.”
“To sit on the Board of any company carries great responsibility, a responsibility I know our Postmasters will be well placed to fulfil. I have been encouraged by the interest from Postmasters in applying and look forward to working with our two new Non-Executive Directors in March.”
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About the Post Office
- With over 11,500 branches, Post Office has the biggest retail network in the UK, with more branches than all the banks and building societies combined.
- Post Office is helping anyone who wants cash to get it whichever way is most convenient. Partnership with over 30 banks, building societies and credit unions means that 99% of UK bank customers can access their accounts at their Post Office.
- Cash withdrawals, deposits and balance enquiries can be made securely and conveniently over the counter at any Post Office; and the biggest investment by any organisation or company in the last decade is being made to safeguard 1,400 free-to-use ATMs across the UK.
- Post Office is simplifying its proposition for Postmasters with a focus on its cash and banking; mails and parcels; foreign exchange; and bill payments services.
- Research has found that visits to the Post Office help drive another 400 million visitors to other shops, restaurants and local businesses equating to an estimated £1.1 billion in additional revenue for High Street businesses.
- 99.7% of the population live within three miles of a Post Office; and 4,000 branches are open seven days a week.
